Form 4: Erie Indemnity Director Charles Scott Hartz Reports Acquisition of Share Credits
SEC Form 4
Director Charles Scott Hartz reports acquisition of share credits under Erie Indemnity's Directors' Deferred Compensation Plan.
Summary
- Charles Scott Hartz, a director of Erie Indemnity Co., reported a transaction on April 21, 2025.
- The transaction involved the acquisition of 42.466 share credits under the Directors' Deferred Compensation Plan.
- These share credits represent the right to receive an equivalent number of shares of Erie Indemnity Company Class A common stock when the reporting individual's service as a Director of the Company ends.
- Hartz also indirectly owns 1,097.427 shares of Class A Common Stock through the C. Scott Hartz 2005 Delaware Trust.
- Following the reported transaction, Hartz directly owns 18,727.167 derivative securities and indirectly owns 1,097.427 shares of Class A Common Stock.
Sentiment
Score: 7
Explanation: The sentiment is neutral as it reflects a routine transaction related to director compensation. It's a standard practice and doesn't indicate any significant positive or negative implications for the company.
Industry Context
This filing is a routine disclosure related to director compensation and stock ownership, common in publicly traded companies.
Comparison to Industry Standards
- Director compensation plans involving share credits are a common practice among publicly traded companies to align director interests with shareholder value.
- Companies like Allstate and Progressive also utilize deferred compensation plans for their directors, often involving stock-based awards.
- The specific terms and amounts of these plans vary based on company size, performance, and compensation philosophy.
Stakeholder Impact
- The transaction has a minimal direct impact on stakeholders as it relates to director compensation and aligns director interests with shareholder value over the long term.
Key Dates
| Date | Description |
|---|---|
| 04/21/2025 | Date of transaction: Acquisition of share credits under Directors' Deferred Compensation Plan. |
| 04/23/2025 | Date of signature by Power of Attorney. |
Keywords
Form 4, Erie Indemnity, Director, Share Credits, Deferred Compensation, Beneficial Ownership, Class A Common Stock
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